PROBLEM 10-9 - PROBLEM 10-9 (a) Exchange has commercial...

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PROBLEM 10-9 (a) Exchange has commercial substance: Arna Inc.’s Books Asset B . ........................................................................... 75,000 Accumulated Depreciation—Asset A. ................... 45,000 Asset A . .................................................................. 96,000 Gain on Disposal of Plant Assets ($60,000 – [$96,000 – $45,000]). ................... 9,000 Cash . ....................................................................... 15,000 Bontemps Inc.’s Books Cash. ................................................................................. 15,000 Asset A . ........................................................................... 60,000 Accumulated Depreciation—Asset B. ................... 52,000 Asset B . .................................................................. 110,000 Gain on Disposal of Plant Assets ($75,000 – [$110,000 – $52,000]) . ................ 17,000 (b) Exchange lacks commercial substance: Arna Inc.’s Books
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PROBLEM 10-9 - PROBLEM 10-9 (a) Exchange has commercial...

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